In the US, as long as you notify the bank within 60 days of receiving a statement that has fraudulent transactions, your maximum liability is $500, and that goe

In the US, as long as you notify the bank within 60 days of receiving a statement that has fraudulent transactions, your maximum liability is $500, and that goes down substantially if you notify the bank promptly of a lost/stolen card, or if the card was not lost in the first place[0]. So yes, the bank really would[1] just compensate you for that, provided you notice the fraud within 2-3 months of it occurring (depending on how quickly you get a bank statement). Edit: You may still be on the hook for overdraft fees from e.g. authorized payments, and it may take some time for the bank to indemnify you, which is why the conventional wisdom is that CCs are safer than debit cards from a fraud perspective. [0] https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-cr... [1] and is in fact legally required to: https://www.federalreserve.gov/boarddocs/caletters/2008/0807/08-07_attachment.pdf https://www.federalreserve.gov/boarddocs/caletters/2008/0807...